<p data-end="255" data-start="66">Private equity real estate firm Conquest has entered into a $220 million partnership with Woolworths’ development arm, Fabcot, to deliver its long-awaited Waterloo project on Bourke Street.</p>

<p data-end="518" data-start="257">The Bourke Street development was first flagged by Fabcot back in 2021 as part of its push into Sydney’s residential market. However, progress has since stalled, with no activity on site amid a number of design revisions in consultation with the City of Sydney.</p>

<p data-end="677" data-start="520"><a href="https://www.apartments.com.au/developers/conquest">Conquest</a>, which is actively planning more than $6 billion worth of new developments, predominantly mixed-use precincts, is now set to move the project forward.</p>

<p data-end="978" data-start="679">The current plans include between 110 and 120 apartments across two buildings designed by Bates Smart at <a href="https://www.apartments.com.au/new-apartments/923-935-bourke-street-waterloo-nsw-2017">923 Bourke Street</a>. The scheme will incorporate a portion of apartments reserved for key workers, alongside premium commercial space at ground level, including a full-line Woolworths supermarket.</p>

<p data-end="1044" data-start="980">Construction is expected to commence in the second half of 2026.</p>

<p>Michael&nbsp;Akaawi, CEO of Conquest, said the partnership reflects the firm’s commitment to "convenience-led" urban renewal."</p>

<p>"We are preparing to commence construction in the second half of this year," Akaawi says.</p>

<p>"Along with Woolworths, we look forward to delivering the first major supermarket to the growing Waterloo community, integrated with premium new apartments and specialty retail shops. Our focus is on creating a seamless lifestyle hub where essential services are at the doorstep, saving residents time and enhancing their quality of life."&nbsp;</p>

<p><img alt="Conquest" data-entity-type="file" data-entity-uuid="d8beee83-ef9b-446b-a3b3-1e2fe596512b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-01%20at%2011.08.46%E2%80%AFAM.png?VersionId=raYhGepiLUJfx4InLPRRJduA3ftDJ_kS" /></p>

<p>The news comes just a week after Conquest went to the NSW Government to upsize its plans for Castlecrag's Quadrangle Shopping Centre.</p>

<p data-end="405" data-start="227">Conquest purchased the site for just shy of $70 million last year, with existing plans in place for a mixed-use residential and retail precinct comprising 38 luxury apartments.</p>

<p data-end="812" data-start="407">Those plans have now been significantly expanded, with the developer lodging a State Significant Development Application with the NSW Government’s Housing Delivery Authority for 150 apartments across two 11-storey buildings. The apartments will sit above a four-storey podium, incorporating specialty retail tenancies and five levels of basement car parking, on the 5,166 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/100-edinburgh-road-castlecrag-nsw-2068">100 Edinburgh Road</a>.</p>

<p>Conquest has been increasingly active in the development space in recent years. The group acquired the&nbsp;<a href="https://www.apartments.com.au/developments/eastlakes-nsw-2018">Eastlakes</a>&nbsp;Shopping Centre redevelopment, where it plans to deliver more than 1,000 apartments above a new retail precinct, and has also lodged a $900 million State Significant Development Application for a&nbsp;<a href="https://www.apartments.com.au/news/nsw/conquest-unveils-900m-stanmore-village-vision-for-landmark-inner-west-site">mixed-use precinct in Stanmore</a>.</p>


Joel Robinson

Conquest partners with Woolworths to deliver mixed-use Waterloo project

<p data-end="319" data-start="100">A shift away from Sydney’s industrial past has left parts of the inner south defined by contrast, brick warehouses repurposed into dining precincts, former factory streets softened by landscaping and pedestrian activity.</p>

<p data-end="547" data-start="321">Rosebery is one of those suburbs. Over the past decade, it has undergone significant gentrification, anchored by The Cannery, which has helped reposition the area as one of the inner city’s most sought-after lifestyle pockets.</p>

<p data-end="832" data-start="549">What hasn’t kept pace with that transformation is new residential supply, which has remained relatively limited. Builder-developer Deicorp identified that gap early, securing a site in 2019 and delivering what is now one of the suburb’s most architecturally distinctive developments.</p>

<p data-end="980" data-start="834">To realise the vision, Deicorp engaged Candalepas Associates to design The Rothschild, a project that is immediately recognisable from the street.</p>

<p data-end="1440" data-start="982">Completed in 2025, The Rothschild comprises two buildings across Rothschild and Mentmore Avenues, delivering 176 apartments. The development replaces a former industrial site, retaining a material and structural dialogue with its past while introducing a more resolved residential framework. The scale is deliberate but not monolithic, broken into forms that engage both street frontages, with retail at ground level and two levels of basement parking below.</p>

<p data-end="1512" data-start="1442">[smartcode_project:default project_id=106843 project_image_fid=221665]</p>

<p data-end="2148" data-start="1514">From the street, the architectural intent is clear. Off-form concrete columns run through the façade, establishing a repeated structural rhythm that gives the building its visual weight. These are paired with deep-set arches and sections of exposed brickwork, creating a layered elevation that reads less like a typical apartment block and more like a reinterpretation of industrial architecture.</p>

<p data-end="2148" data-start="1514">The material palette is intentionally restrained, with concrete left exposed and brick used to define mass rather than decoration. The result is a building that stands out through proportion and repetition, rather than height or glazing.</p>

<p data-end="2647" data-start="2150">This approach continues internally. A central landscaped courtyard sits between the two buildings, anchored by an olive grove that acts as both a visual and spatial focal point. Rather than functioning as residual space, the courtyard is designed as a shared ground plane, where circulation paths, seating areas and planting come together to create a usable communal environment. Its positioning allows natural light to penetrate deep into the site while maintaining separation between residences.</p>

<p data-end="2719" data-start="2649">[smartcode_project:default project_id=106843 project_image_fid=221666]</p>

<p data-end="3056" data-start="2721">Within the apartments, the planning follows a clear and functional logic. Entry points lead directly into open-plan living areas, with kitchens positioned as central elements alongside dining and lounge spaces. These zones extend to balconies or external openings, maintaining a visual connection to either the courtyard or the street.</p>

<p data-end="3559" data-start="3058">Kitchens prioritise practicality, with generous bench space, ample storage and European appliances configured for everyday use. Bedrooms are typically set back from the main living areas, creating quieter zones within each residence, with separation achieved through layout rather than material change. Bathrooms are compact but efficient, incorporating mirrored cabinetry and integrated storage to maximise space. Across all residences, the emphasis is on clarity of movement and functional planning.</p>

<p data-end="3631" data-start="3561">[smartcode_project:default project_id=106843 project_image_fid=221669]</p>

<p data-end="4053" data-start="3633">At ground level, retail and hospitality uses extend the building’s presence beyond its residential function. A café or restaurant space, alongside communal amenities such as a music room and rooftop areas, positions the development as part of a broader urban network rather than a standalone project. These shared spaces reinforce a lifestyle where the building operates as an extension of the surrounding neighbourhood.</p>

<p data-end="4408" data-start="4055">Rosebery’s proximity to Green Square, The Cannery and nearby parklands supports this model of living, where much of daily life is within walking distance. The Rothschild sits comfortably within that network, contributing to the streetscape through its distinctive architecture, while internally organising space around light, structure and communal use.</p>

<p data-end="4497" data-start="4410">The Rothschild is now complete and ready to move in, with limited residences remaining.</p>

<p data-end="4548" data-start="4499">[smartcode_project_cta:default project_id=106843]</p>


The Rothschild reinterprets Rosebery’s industrial DNA into residential form

<p>KTQ has unveiled&nbsp;<a href="https://www.apartments.com.au/new-apartments/casilia-16-marine-parade-coolangatta-qld-4225">Casilia</a>, the final residential release within the Kirra Point precinct which really kicked off the boom in the area back in 2019.</p>

<p>The final stage comprises&nbsp;87 residences and marks the culmination of a long-term, family-led vision for Kirra Point, as the precinct moves toward completion in tandem with the development.</p>

<p>Around $100 million in sales have been achieved already, close to 35 per cent of the residences secured ahead of launch. There have been a significant number of buyers returning from the first stage of the development, Miles Residences, securing another property within Kirra Point.</p>

<p>[smartcode_project:default project_id=152295 project_image_fid=368410]</p>

<p>Selling agent Tim Keenan from Keenan Byrne said the response reflects both the scarcity of the offering and Kirra’s growing reputation as a premium coastal market.</p>

<p>“This is effectively Kirra’s final act, the last release within what has become one of the Southern Gold Coast’s most tightly held beachfront precincts,” Keenan said.</p>

<p>“We’ve seen exceptionally strong pre-sale interest, from VIP waitlists through to off-market enquiry, which speaks to both the quality of the product and the confidence buyers have in the precinct. What’s particularly compelling is the number of buyers returning from Miles, either upgrading or investing again, which is a strong signal of how the precinct has been received."</p>

<p>Keenan adds that at the same time, north-facing beachfront remains exceptionally rare in Australia, limited to places like Noosa, Byron and Kirra, which is underpinning long-term value.</p>

<p>[smartcode_project:default project_id=152295 project_image_fid=368415]</p>

<p>Positioned along one of Australia’s few true north-facing beaches, Casilia offers a mix of two and three-bedroom residences with pricing ranging from $1.87 million to $7.15 million and two exclusive penthouses. Residences are oriented to capture varying outlooks, from uninterrupted Pacific Ocean views across Kirra Beach to hinterland vistas, with upper levels and shared amenity taking in sweeping perspectives along the Gold Coast coastline.</p>

<p>At rooftop level, a north-facing pool deck captures expansive, uninterrupted views over Kirra Beach and north towards Surface Paradise. The space incorporates a heated resort-style pool, mineral spa, sun lounges and a covered BBQ cantina.</p>

<p>Buyer profiles are broad, typically aged between 40 and 70, with a strong skew toward second-home ownership, drawn by a combination of lifestyle, relative value, proximity to Gold Coast Airport and lower congestion compared to more established markets such as Byron Bay and Noosa.</p>

<p>[smartcode_project:default project_id=152295 project_image_fid=368414]</p>

<p>The project is being delivered by <a href="https://www.apartments.com.au/developers/ktq-group">KTQ Group</a>, a family-owned Australian property group with a diverse portfolio spanning residential, hospitality and commercial developments. The group has delivered a number of notable projects across sectors, including the award-winning Elements of Byron resort, demonstrating its depth of experience across both hospitality and residential development.</p>

<p>Known for its long-term approach to place-making, KTQ Group retains a vested interest in its projects, often holding assets within its portfolio, which has also helped build trust among buyers and reinforced confidence in both the vision and delivery certainty of the precinct.</p>

<p>“Casilia represents the final opportunity to secure a residence within Kirra Point and brings to market the last release within our long-term vision for the precinct," KTQ Group's Jeremy Holmes said.</p>

<p>"Kirra Point has been more than a decade in the making, and that timeframe reflects the care behind each decision, it takes listening, balance and vision to arrive at something that feels right for the location.</p>

<p>“Our approach has always been to deliver Kirra Point as a destination in its own right, a connected coastal neighbourhood integrating residential, hospitality and wellness, rather than a standalone project. It’s a vision that respects place, pace and permanence, and contributes to a sense of community that feels authentic to Kirra.”</p>

<p>[smartcode_project:default project_id=152295 project_image_fid=368411]</p>

<p>Once complete, the Kirra Point masterplan will incorporate a mix of dining establishments, bars and cafés, alongside the Kirra Point Health Club and a future 91-room independent resort hotel, creating a walkable, integrated lifestyle precinct.</p>

<p>Architecutue and interiors at Casilia have been designed by the experienced design houses of <a href="https://www.apartments.com.au/architects/little-boat-projects">Little Boat Projects</a> and O’Neil Architecture &amp; Interior Design, The design moves beyond the conventional coastal apartments, instead taking cues &nbsp;from the surrounding landscape - layering natural materials, soft curves and warm textures to create spaces that respond to light, airflow and the rhythms of coastal living.</p>

<p>Residences are designed with an array of floorplates, generous proportions and intuitive flow, while at ground level Casilia connects into the broader precinct, where future laneways, retail and hospitality offerings will contribute to a neighbourhood defined as much by how people live day-to-day as its beachfront position.</p>

<p>[smartcode_project_cta:default project_id=152295]</p>


The final residential release within the Kirra Point masterplan is set to launch, as strong pre-sales signal sustained demand for the Southern Gold Coast

A decade in the making: KTQ launches Casilia at Kirra Point

<p>South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.</p>

<p>The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.</p>

<p><a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367182]</p>

<p>Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.</p>

<p>Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367181]</p>

<p>Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.</p>

<p>Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367200]</p>

<p>The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.</p>

<p>Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.</p>

<p>Construction is expected to complete in early 2029.</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

<p data-end="198" data-start="61">One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.</p>

<p data-end="350" data-start="200">The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.</p>

<p data-end="461" data-start="352">Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.</p>

<p data-end="461" data-start="352">&nbsp;</p>

<p>Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.</p>

<p>[smartcode_project:default project_id=151821 project_image_fid=368352]</p>

<p>Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.</p>

<p>“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.</p>

<p>"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."</p>

<p>On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.</p>

<p>[smartcode_project:default project_id=151821 project_image_fid=368351]</p>

<p>One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;</p>

<p>The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.</p>

<p>Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.</p>

<p>[smartcode_project:default project_id=151821 project_image_fid=360285]</p>

<p>Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.</p>

<p>Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;</p>

<p>The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.</p>

<p>[smartcode_project_cta:default project_id=151821]</p>


Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Loss-making

<html><body>
<p>West Coast Eagles star Nic Naitanui has made a big loss on his former Perth home.</p>

<p>The Swan View residence, which became an $800 a week rental following his upgrade in 2016, has sold for $900,000, having cost $1,285,000 in 2012.</p>

<p>It took a while to find its buyers since he'd been seeking offers over $900,000 since early in 2019 as Perth endures the long downturn following its mining boom price spike.</p>

<p>The two level entertainer on an 855 square metre hilltop parcel north east of Perth has four bedrooms, two bathrooms, a theatre room and a rear swimming pool.</p>

<p>It sold through Realmark Urban agent Holly McSweeney.</p>

<p>Naitanui, who made his debut for the Eagles in 2009 after being the number two draft pick a year earlier, upgraded homes in 2016.</p>

<p>He spent $3 million on a five bedroom home with swimming pool in Mount Lawley.</p>
</body></html>

Nic Naitanui has made a big loss on his former Perth home, nearly -$300,000.

jchancellor

West Coast Eagles star Nic Naitanui sells at Swan View

<html><body>
<p><span>Investors in the TV property guru Kevin McCloud’s eco-friendly housing ventures face losing nearly all their money.</span></p>
<p>Between 2013 and 2017, McCloud wooed investors with crowdfunding schemes that promised returns of up to nine per cent a year from his Happiness Architecture Beauty (HAB) homes businesses.</p>
<p>The UK Guardian reported - in an extraordinary parallel with his TV series participants – HAB has been hit by budget overruns, construction problems and relationship bust-ups.</p>
<p>McCloud, 60, has presented the Channel 4 series Grand Designs since its launch in 1999.</p>
<p>He set up HAB Housing in 2007 “to challenge the way identikit volume housing was built in the UK”.</p>
<p>Around 650 investors put in £1.9 million in 2013, which at the time was a crowdfunding world record.</p>
<p>Those investors are yet to receive a penny, however the investors who put money in to the project in 2017 are likely to be worse off.</p>
<p>As a worse case scenario, HAB have said those who put a total of £2.4million into one bond two years ago will lose between 74 per cent and 97 per cent.</p>
<p>A recent letter warns that HAB Land would be unable to continue to trade without a further injection of funds.</p>
<p>McCloud himself sent out a separate letter in July to the 2013 crowdfunding investors stating that “the numbers” were “serious”, adding: “HAB Housing currently owes just under £1.6 million to HAB Land.</p>
<p><span>He also faces demands for repayment from a restructuring company that has taken control of part of his business.</span></p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Investors in Grand Designs' McCloud property projects face huge losses

<html><body>
<p>Big names, big losses. Imagine taking a $500,000 hit on your house resale.</p>
<p>That's the largest loss yet taken by Sydney sellers in the property market downturn now taking hold.</p>
<p>The $500,000 price woes are shared equally on a sale at Warrawee and Castle Cove.</p>
<p>Jerry Ren, the now bankrupt former oil and gas entrepreneur Jerry Ren took a $500,000 loss when <a href="https://chiltonrealestate.com.au/m290/27-29-chilton-parade-warrawee" target="_blank">Bremon, the Warrawee trophy home</a> (top) sold recently for $11 million. The vast home, once dubbed the Chilton Hilton, had been bought by Ren, described as the Northern Territory's first billionaire, for $11.5 million eight years ago.</p>
<p class="first-para">It was the Waitan Restaurant, Haymarket restauranteur Kai Meng who took a $500,000 loss on his Castle Cove home resale, selling off-market for $5.5 million (below).</p>
<p class="first-para"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/neerim1.jpg" alt=""></p>
<p class="first-para">The property had cost $6,006,666 in 2011. Ofcourse after other costs including $360,000 stamp duty on purchase and around $115,000 on estate agent commissions the total loss would have neared $1 million.</p>
<p class="first-para">The grand six-bedroom residence, built in the late 1990s, is set on 2500 square metres of Neerim Road waterfront reserve. The Waitan Group’s windup has seen debts owed to the Australian Tax Office.</p>
<p class="first-para">The property pain is emerging amid vendors across Sydney, although CoreLogic stress it is hitting the top end the most.</p>
<p class="first-para">Values are down<span> 8.6 percent amid <span>the top percent of the market compared to a 4.6 percent drop amid the cheapest quartile.</span></span></p>
<p class="first-para"><span><span>The top nine known losses have seen prices fall by between 8.3 percent and 0.5 percent.</span></span></p>
<p class="first-para"><span><span>But lesser losses are emerging among the suburbs. Cricketer Nathan Lyon recently stumbled with a $15,000 Vaucluse apartment price drop. </span></span></p>
<p class="first-para">Around 3 percent of Sydney house sales have been at a loss, in the last quarter survey by CoreLogic, and 3.5 percent of apartments.</p>
<p class="first-para">CoreLogic first calculated Sydney prices were falling in September last year, with actual losses quickly following.</p>
<p class="first-para">The downturn followed a five year period when prices peaked with some 78 percent growth.</p>
<p>In Sydney the declines over the past year has seen median home prices fall by around $70,000.</p>
<p>In percentage terms, the 7.4 percent annual dwelling decline in Sydney was the largest since February 1990.</p>
<p class="x_xmsonormal"><span>"Sellers who are motivated and willing to meet the market essentially reset price points, so even if you’re a little stubborn as a seller and want to hold onto your price, unfortunately you are now at the mercy of others who are dropping prices to meet buyer demand," inner west agent Matt Hayson said.</span></p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"The market has certainly slipped faster than most forecast," agent Matt Hayson said, noting the recent 7.4 percent Sydney price decline data.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"It hasn’t been just the speed of the decline but also how far it has moved too.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I think a few articles suggested we are back to 2016 prices but I’d suggest it’s 2015 prices already and continuing to drop," he said.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"Auctions are largely not working. </p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I’m seeing more and more auction delays given the incredibly tough restrictions on pretty safe bet home loan applicants.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"If you place your property on the market, you’d want to prepare yourself mentally for a roller coaster and in most cases very weak feedback with the likelihood of one or maybe two buyers willing to make an offer."</p>
<p>Matt Hayson said homeowners who were selling recently purchased properties were in a vastly different position from those selling homes owned for decades.</p>
<p>“And for people who don’t own a home, it is a good chance to get into the market.” </p>
<div>The pricey Palm Beach saw its second resale at a loss last month.</div>
<div> </div>
<div>Christian Ainsworth, of the aristocrat pokie machine family, took a <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-129620950" target="_blank">$400,000 loss on his Palm Beach retreat</a> (below).</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/ocean.jpg" alt=""></div>
<div> </div>
<div>He paid $3,425,000 for the four bedroom dress circle Ocean Road property in 2013 and sold for $3,025,000 through BresicWhitney agent Adrian Oddi.</div>
<div> </div>
<div>"The vendor <span><span>was very happy with the price achieved and the timeframe," Oddi said. </span></span>
<p>“Remember 50 percent of Sydney properties have no buyers. The other 50 percent might have one buyer. That’s the reality,” Oddi said.</p>
</div>
<div>Indeed Ainsworth had been conditioned to expect an even bigger loss having a $2.9 million price guide for the 1960s home.</div>
<div> </div>
<div>There was a $2.5 million sale recently of a hillside Palm Beach weekender that previously sold at $2.55 million in 2005.</div>
<div> </div>
<div>There had been a foreboding big loss at neighbouring Whale Beach late last year when the retiring Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house for $3.33 million to his neighbour.</div>
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<div>The home, neglected by its absentee owner, had cost $3.675 million in pre-GFC 2006, highlighting how the luxury second home market was hot hard and long after the global financial crisis. Liveris took a $345,000 loss on the 1,110 sqm Whale Beach Road property which slopes down to the ocean.</div>
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<div>Boom time off the plan exuberance has emerged as a weak spot for prices.</div>
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<div>Last month the online publisher Jackie Maxted lost $200,000 in the resale of a penthouse in the warehouse conversion of the iconic Griffiths Tea building in Surry Hills.</div>
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<div>Maxted, who founded the Beauty Heaven website, paid $4 million off the plan in 2015 for New York-style Federation warehouse apartment. She rquietly sold the two level, three bedroom penthouse for $3.8 million.</div>
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<div class="in-content-ad"> </div>
<div class="in-content-ad">The Block judge Neale Whitaker lost $170,000 on his stylish Alexandria apartment when selling for $1,535,000 earlier this year. He bought on completion in the SJB Architects &amp; Interiors designed Birmingham Street block for $1,705,000 in 2016.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">"Disappointed of course but market forces and market forces," Neale tweeted after its unsuccessful auction.</div>
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<div class="in-content-ad">Flipping is now a tricky tactic in property. The art collector John Scheaffer took a direct $100,000 loss on Bonnignton, the Tudor, English-style manor in Bellevue Hill that he bought for $20.5 million in February.</div>
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<div class="in-content-ad">After a quick makeover, where he <span>removed old carpet, restored timber floors and replaced electric switchboards and lighting during his very brief ownership.</span> Schaeffer could only secure $20.4 million at its recent auction.</div>
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<p>Charles Tarbey, chairman of Century 21 Australasia noted people taking losses in the current property market might be forced sellers, or parties looking to downsize or upsize.</p>
<p>"Taking a loss may not be a huge concern for some so long as they are buying in a market that has also experienced comparative declines in property prices.</p>
<p>"However, many markets are still experiencing property price growth so these groups should be conscious of that and look to do their research," Tarbey stressed.</p>
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<p class="first-para">Jade Guven, the wife of the property developer Savas Guven, sold her Bayview abode for a $450,000 loss.</p>
<p class="first-para">Having paid $3.7 million, the luxury four bedroom home sold seven months later for $3.25 million.</p>
At Clovelly fitness entrepreneur Jacinta McDonell, who co-founded Anytime Fitness in Australia, sold her <a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank">Clovelly project for a $350,000 loss</a> last month (below).</div>
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<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/seaview-clov.jpg" alt=""></div>
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<div class="in-content-ad">She didn't get round to developing the duplex-style Federation that was made up of two two bedroom apartments. She just sold for $3.12 million, having paid $3.47 million last November.<a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank"></a>
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<div class="in-content-ad">BresicWhitney director Shannan Whitney says the idea of ‘list it and they will come’ has evolved into a new dynamic.</div>
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<p>“Pricing ethos has been mainly focused on finding a price in line with comparable sales. </p>
<p>"Now it’s about finding a price that ensured you will engage a reluctant buying market.”</p>
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<div>Whitney recently advised clients "the current property climate is testing emotions all over Sydney."</div>
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<div>"At the heart of it, plenty of people have been, mostly unintentionally, set up for failure," he noted.</div>
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<div class="in-content-ad">Hardly off a cliff, but Nathan Lyon had to revise his price hopes on his Vaucluse investment apartment.</div>
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<div>Local agent Brad Pillinger sought more than $1.2 million initially, but the three bedroom apartment would later see it passed in on an $1.1 million vendor bid.</div>
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<div>Lyon ended up selling for $1,085,000, having paid $1.1 million in 2015.</div>
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<div>Even vacant land blocks are heading backwards.</div>
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<p>A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.</p>
<p>The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.It took 111 days to sell, with the price revision to $1.02 million prompting a sale.</p>
<p>The block at 39 Anderson Place first sold for $640,000 in 2015 when bought from the developer.</p>
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<p>Sydney's largest losses were in the 1990 recession when one Point Piper harbour front house fell from its record $11.5 million peak in 1987 back to $6.1 million and then $5.25 million over a five year period.</p>
<p>Terry Ryder at Hotspotting website says a<span>nyone who has owned for a few years will still be selling for a decent profit in Sydney.</span></p>
<p><span>"<span>The only people taking losses in Sydney should be people who bought recently and, for whatever reason, need to sell in a hurry," Ryder advised.</span></span></p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
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jchancellor-FAypfDUnLy

Orderly downturn sees $500,000 losses taken at Sydney top end residential

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<p>The latest CoreLogic Pain &amp; Gain report had 20.1 percent of Perth homes resold at a loss, while in Darwin, 24.2 percent of homes resold at a loss; the highest proportion since December 2002.</p>
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<p>Across the remaining capitals, the proportion of loss-making resales was: Sydney 2.4 percent, Melbourne 4.4%, Brisbane 8.4%, Adelaide 10.6%, Hobart 10.8% and Canberra 9.6%.<br><br>Across the regional markets, the proportion of loss-making resales increased in New South Wales, Victoria, Queensland and Western Australia, and was unchanged in South Australia.</p>
<p>Across the individual areas, the proportion of resales at a loss were recorded at: 7.3% in regional NSW, 9.3% in regional Vic, 19.8% in regional Qld, 21.7% in regional SA, 33.8% in regional WA, 19.6% in regional Tas and 21.2% in regional NT.</p>
<p>The report uncovers the profits earned and the losses made from property sales over the June 2016 quarter, and reveals which locations have been the most valuable for investment.</p>
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<p>Based on the June quarter findings, 5.9% of capital city houses resold at a loss, up from 5.7% from the March 2016 quarter while units at 9.5% resold for less than the previous purchase price. Across regional housing markets, 12.2% of houses &amp; 19.9% of units resold over the June 2016 quarter transacted below previous purchase price.</p>
<p>Regional areas experienced the highest proportion of total resales at a loss since the three months to August 2015 for houses and the three months to February 2016 for units.</p>
<p><strong>Capital Cities Losses &amp; Profits:</strong></p>
<p>• $164,239,771 in losses from resales of capital city houses = $94,926 on average;<br>• $87,017,927 in losses from resales of capital city units = $67,456 on average;<br>• $9,953,211,125 realised for resale profit for capital city houses = $363,442 on average; <br>• Total resale profit for capital city units - $2,828,164,261 = $229,596 on average.</p>
<p><strong>Regional Areas Losses &amp; Profits:</strong></p>
<p>• $139,475,875 worth of house resold at a loss = $64,423 average loss<br>• $68,199,797 units resold at a loss = $61,944 average loss<br>• $2,400,837,922 in profits realised for houses = $154,773 on average<br>• $475,731,130 in profit realised for units across regional areas = $107,680 on average.</p>
<p>CoreLogic researcher Cameron Kusher said while loss-making resales increased over the quarter, historically, most cities are still seeing quite a low instance of homes reselling at a loss.</p>
<p>"However, Perth and Darwin are the exceptions with the proportion of loss-making resales at, or close to historic highs.”</p>
<p>Around the country, the proportion of loss-making resales over the quarter increased across each capital city excluding Melbourne and Canberra.</p>
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Perth's loss taking property sellers at 20 percent: CoreLogic

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<p><span>The amount of homes nationwide sold at a loss is lower than the post financial crisis peak, according to the recent<span> CoreLogic RP Data Pain &amp; Gain report</span>.</span></p>
<p><span style="line-height: 1.3em;">The report, covering the March 2015 quarter, found Perth and Darwin had a 'rapid' lift in the rate of loss-making resales over the last few months, noting this is similar in broader housing market conditions where rental rates are reducing and listings are rising.</span><span style="line-height: 1.3em;"><br></span></p>
<p><a href="/images/2015/06/23/700_pain1.jpg" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span><img src="/images/2015/06/23/700_pain1.jpg" alt=""></span></p>
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